Buying

If you’re under the impression that the region is a goldmine of great real estate buys, then you’ve arrived thirteen years too late. Real estate is still cheap versus London or Moscow, but you’re probably not going to make out like a bandit. 
The best advice is to find a broker you like and believe in. The broker will serve more to help you avoid surprises than he’ll negotiate for you: in this region the asking price is very similar to the selling price. For detailed information, we recommend you read City Paper’s Real Estate Guide for Foreigners. Many foreigners retain local attorneys to help protect their interests, as well. 

Brokers

This is a partial listing of brokers City Paper readers have used and been pleased with in the past. It is by no means complete. 
Aviso: Tartu mnt. 62-2, tel. 637-3826. www.aviso.ee 
Kaanon: Endla 6, tel. 665-9585. www.kaanon.ee  
Kinnisvaraekspert: Rävala pst. 5, tel. 630-9440. www.kve.ee  
Ober-Haus: Narva mnt. 53, tel. 665-9700. www.ober-haus.ee  
Pindi Kinnisvara: Estonia pst. 15, tel. 610-3900. www.pindi.ee  
Uus Maa: Rävala pst. 6, tel. 627-2600. www.uusmaa.ee  

Finance

Concerning banks, there are the usual suspects available in any phone book. Banks in Estonia are modern, safe, customer-oriented institutions. Almost all are foreign-owned. Don’t forget the Baltic-American Mortgage Company, a foreign-funded mortgage company (Roosikrantsi 11, tel. 627-7180; www.eluasemelaen.ee). They are professionals often overlooked by foreigners in the region.

Renting

In Tallinn’s old city, apartments are renting for 11-14 euros per square meter per month. If you’re willing to give up the quaint cobblestone streets, the savings can be significant.
For those in need of long-term rentals there are many options, the most obvious of which is to look in the newspaper. Dealing directly with an apartment’s owner may save you money, but beware you run the risk of surprises. It’s better than it used to be, but Estonian apartment owners occasionally will not see it as your apartment. Make sure you find out if the owner plans to enter the apartment when you’re not there, whether he’ll allow you to employ a cleaning service, whether you’ll have to pay rent in cash, whether you’ll be required to pay a broker you never used, just to name a few.
If you have the money, employ a rental agency to vet the apartments for you. They’ll remove the element of surprise, and the owner won’t show up one day to interview you about what cleaning products you’re using on his floor. Brokers will typically charge one-half to one month’s rent as a commission regardless of the length of the lease signed. 

Rental agencies

See Apartment Rental in City Paper’s Staying the Night section. Most also deal with long-term rentals. 

Web Info

For renting or buying, get a sense of the market at www.kv.ee or www.city24.ee. 

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